{"id":411124,"date":"2021-01-08T08:55:33","date_gmt":"2021-01-08T13:55:33","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=411124"},"modified":"2021-01-08T08:55:33","modified_gmt":"2021-01-08T13:55:33","slug":"aeromexico-continues-negotiations-with-unions-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/aeromexico-continues-negotiations-with-unions-2\/","title":{"rendered":"Aeromexico continues negotiations with Unions"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n MEXICO CITY<\/span>, Jan. 8, 2021<\/span> \/PRNewswire\/ —\u00a0Grupo Aerom\u00e9xico, S.A.B. de C.V. (“Aeromexico” or the “Company”) (BMV: AEROMEX) announces that, as a follow up to its previous relevant events dated December 29<\/span> and 31, 2020, although significant progress has been made in the negotiations of the Collective Bargaining Agreements with the Asociaci\u00f3n Sindical de Sobrecargos de Aviaci\u00f3n de M\u00e9xico<\/i> (ASSA) and the Asociaci\u00f3n Sindical de Pilotos Aviadores de M\u00e9xico<\/i> (ASPA), necessary adjustments to face the adverse effects caused to the airline industry due to the global pandemic of COVID-19, negotiations with said unions have not yet been concluded, pursuant to the milestones required to access disbursements under the Senior Debtor in Possession Credit Facility (“DIP Financing”). <\/p>\n

The satisfactory conclusion of such pending agreements is necessary for the Company to meet certain commitments and objectives required by the DIP lenders within the Company’s voluntary financial restructuring process, under the Chapter 11 of the Bankruptcy Code of the United States of America<\/span>. Consequently, Aeromexico has requested an extension to the term provided in the Credit Agreement, which has been granted until January 27, 2021<\/span>, in order to comply with the conditions and obligations under the DIP Financing.<\/p>\n

The Company will continue to work in a coordinated manner with the representatives of the unions in order to meet the necessary conditions to request the next disbursement under Tranche 2 of the DIP Financing, which is essential to preserve the ordinary course of business and avoid defaults in its obligations with the lenders under the DIP Financing.<\/p>\n

Aeromexico will continue pursuing, in an orderly manner, the voluntary process of its financial restructuring under the Chapter 11 process, while continuing to operate and offer services to its customers and contracting from its suppliers the goods and services required for operations. The Company will continue to use the advantages of the Chapter 11 proceeding to strengthen its financial position and liquidity, protect and preserve operations and assets, and implement the necessary adjustments to manage the impact of COVID-19.<\/p>\n

This press release contains certain forward-looking statements that reflect the current views and\/or expectations of the Company and its management with respect to its performance, business and future events. We use words such as “believe,” “anticipate,” “plan,” “expect,”, “intend,” “target,” “estimate,” “project,” “predict,” “forecast,” “guideline,” “should” and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. The Company is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. <\/p>\n

About Grupo Aeromexico Grupo Aerom\u00e9xico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico<\/span> and the promotion of passenger loyalty programs. Aeromexico, Mexico’s<\/span> global airline, has its main operations center in Terminal 2 of the Mexico City<\/span> International Airport. Its destination network has reach in Mexico<\/span>, the United States<\/span>, Canada<\/span>, Central America<\/span>, South America<\/span>, Asia<\/span> and Europe<\/span>. The Group’s current operating fleet includes Boeing 787 and 737 aircraft, as well as the latest generation Embraer 190. Aeromexico is a founding partner of SkyTeam, an alliance that celebrates 20 years and offers connectivity in more than 170 countries, through the 19 partner airlines. Aeromexico created and implemented a Health and Hygiene Management System (SGSH) to protect its clients and collaborators at all stages of its operation. <\/p>\n

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\n www.aeromexico.com<\/a>
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\n \u00a0\u00a0\u00a0<\/i>
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\n www.skyteam.com<\/a>
\n <\/i>
\n \u00a0<\/i>\n <\/p>\n

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\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/aeromexico-continues-negotiations-with-unions-301203385.html<\/a><\/p>\n

SOURCE Grupo Aerom\u00e9xico, S.A.B. de C.V.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire MEXICO CITY, Jan. 8, 2021 \/PRNewswire\/ —\u00a0Grupo Aerom\u00e9xico, S.A.B. de C.V. (“Aeromexico” or the “Company”) (BMV: AEROMEX) announces that, as a follow up to its previous relevant events dated December 29 and 31, 2020, although significant progress has been made in the negotiations of the Collective Bargaining Agreements with the Asociaci\u00f3n Sindical de Sobrecargos de Aviaci\u00f3n de M\u00e9xico (ASSA) and the Asociaci\u00f3n Sindical de Pilotos Aviadores de M\u00e9xico (ASPA), necessary adjustments to face the adverse effects caused to the airline industry due to the global pandemic of COVID-19, negotiations with said unions have not yet been concluded, pursuant to the milestones required to access disbursements under the Senior Debtor in Possession Credit Facility (“DIP Financing”). The satisfactory conclusion … <\/p>\n

Continue reading “Aeromexico continues negotiations with Unions”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-411124","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAeromexico continues negotiations with Unions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/aeromexico-continues-negotiations-with-unions-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aeromexico continues negotiations with Unions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire MEXICO CITY, Jan. 8, 2021 \/PRNewswire\/ —\u00a0Grupo Aerom\u00e9xico, S.A.B. de C.V. (“Aeromexico” or the “Company”) (BMV: AEROMEX) announces that, as a follow up to its previous relevant events dated December 29 and 31, 2020, although significant progress has been made in the negotiations of the Collective Bargaining Agreements with the Asociaci\u00f3n Sindical de Sobrecargos de Aviaci\u00f3n de M\u00e9xico (ASSA) and the Asociaci\u00f3n Sindical de Pilotos Aviadores de M\u00e9xico (ASPA), necessary adjustments to face the adverse effects caused to the airline industry due to the global pandemic of COVID-19, negotiations with said unions have not yet been concluded, pursuant to the milestones required to access disbursements under the Senior Debtor in Possession Credit Facility (“DIP Financing”). 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